Optionals IAS Mains Economics: Questions 83 - 91 of 199

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Question 83

Theories of under Development in an Open Economy
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Appeared in Year: 2016

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Essay▾

What is Marxian theory of Alienation?

Explanation

  • Marx’s theory of alienation is borrowed from Hegel’s idea of alienation. Marx alienation is related to the real existing objects and can be overcome in the real sphere of object-related activity.
    • Alienation has three dimensions:
      • Man’s alienation from nature
      • Alienation from humanity or fellow workers
      • Alienation from himself
    • Alienation from nature implies

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Question 84

WTO, TRIMS, TRIPS, Domestic Measures
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Appeared in Year: 2010

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Essay▾

Explain the objectives of IMF.

Explanation

Objectives:

The basic objective of IMF is to promote international monetary cooperation.

The IMF Charter prescribes its six objectives:

  • It helps to promote international monetary cooperation among members.
  • It helps to facilitate the balanced growth of international trade and to contribute to high levels of employment, real incentive, and productive cap

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Question 85

Theories of under Development in an Open Economy
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Appeared in Year: 2016

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Essay▾

Explain the Ranis Fei model of economic development. How does it improve upon the Lewis model of development?

Explanation

  • In Lewis model, an economy transits from the labour surplus stage to the labour scarce stage of development.
    • Later Fei and Ranis formalized the Lewis theory and defined 3 phases of dualistic economic development by sub dividing the first stage in the Lewis model into two phases.
    • Thus, the second labour scarce stage of Lewis model corresponds to the t

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Question 86

Balanced and Unbalanced Growth
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Appeared in Year: 2016

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Essay▾

“The need for balanced growth rests on the need for a balanced diet”-Nurkse. Explain this statement.

Explanation

  • Nurkse idea of balanced growth explains that a synchronized application of capital to a wide range of industries is necessary for the enlargement of market and for breaking the vicious circle of poverty in an underdeveloped country.
    • This idea rests on the balance in demand approach. He does not neglect the supply side of balanced growth.
    • He assumes s

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Question 87

WTO, TRIMS, TRIPS, Domestic Measures
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Appeared in Year: 2017

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Essay▾

Discuss the role of IMF on stabilizing the world economy.

Explanation

The IMF has played a very vital role in stabilization of economy. The IMF is an organization that seeks to promote international monetary cooperation and to facilitate the expansion of trade, and thus to contribute increased employment and improved economic conditions.

  • The system of exchange rate under the IMF combines the element of stability with

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Question 88

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Appeared in Year: 2017

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Essay▾

Critically discuss the concept of Human development index related to growth and welfare.

Explanation

  • Since 1990, the United Nations Development Programme (UNDP) has been publishing every year a Human Development Report.
    • The report, besides discussing various aspects of human development, has been ranking various countries according to the level of human development index. HDI is an equi-weighted average of:
    • Life Expectancy Index (LEI)
    • Educational att

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Question 89

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Appeared in Year: 2016

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Essay▾

Explain the value added method of national income accounting.

Explanation

In this method, instead of taking market value of final product, the value added at different stages of production is counted for estimating national income.

  • Thus, according to this method, national income is the sum total of value added by different producing units of a country in their production process.
  • Value added means the addition to the value

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Question 90

Theories of under Development in an Open Economy
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Appeared in Year: 2017

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Essay▾

Discuss the main tenets of the theory of underdeve1opment as propounded by dependency school.

Explanation

  • Dependency theory evolved around 1950 as a reaction to some of the earlier theories of development.
    • Dependency theory was popular in the 1960s and 1970s as a criticism of modernization theory.
    • The main profounder of dependency theory are: Prebisch, Singer, Gunnar Myrdal, A Gander Frank and Bill Warren. Many of these scholars focused their attention o

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Question 91

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Appeared in Year: 2010

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Essay▾

The Physical Quality of Life Index is an instrument to measure development. Elaborate the statement.

Explanation

  • PQLI: David Morris tried to look for those indicators, which were the results of the development efforts.
    • Out of hundred and odd indicators, he could find only three which could have universal appeal as ends in themselves and meet the criteria laid down.
    • These are: Life Expectancy (LE), Infant Mortality (IM) and Basic literacy (BL). He called this co

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